When Will China’s Prosperity Catch up with the US?

Abstract

Though wildly premature at best, and, at worst, very unlikely for several decades, there is some basis for speculation that China’s economy would soon surpass in size and prosperity that of the U.S. Due to the size of its economy and markets, China will have a relatively large share of production and consumption of most goods and services in a few decades. The other ingredient is that, for the past 28 years or so, China has exhibited extremely rapid growth. This article discusses scenarios under which China’s economy will equal or surpass that of the world’s remaining superpower.